Globalfoundries said that it has agreed terms with AMD to acquire the remaining stake the fables firm had in the company, three-years after spinning-off its IC manufacturing operations.

“Today marks the start of a new era for Globalfoundries as it becomes a truly independent foundry,” said its CEO, Ajit Manocha. “Globalfoundries has a clear vision to be the leading semiconductor foundry partner to AMD and one of the world’s top technology companies. We continue to execute on our strategy to propel ATIC’s long-term investment philosophy into true value creation for our shareholder and customers.”

The foundry said that gaining independence had been its long-term aim. However, this was not mentioned when AMD spun-off the operations, due to previous fears that Intel, under a previous agreement could take legal action of IP infringements on a complete divesture.